The intraday trading range widened a bit today, and the early action was rather choppy. However, the troops settled into a groove midafternoon, pushing stocks off morning lows and to session highs by the close. The Dow lagged as Goldman Sachs (GS) weighed down the price-weighted index, but both the S&P 500 and Nasdaq finished at record highs.
The primary positive today, of course, was the outstanding report from Netflix (NFLX) . The sell-the-news theme that we've seen so far in the financials hasn't infected other areas, and in fact, the big move from NFLX bolstered the recent rotation back into the FAANG names, with Amazon (AMZN) and Facebook (FB) also hitting record highs. (Facebook is part of TheStreet's Action Alerts PLUS portfolio.)
With much of the attention on the bigger names today, the action under the surface was a little subdued, but there were a few names off the beaten path that stood out, like Agenus (AGEN) and Kimball Electronics (KE) . Most importantly, I continue to see a strong stable of technical patterns that could produce a steady supply of opportunities as we move forward.
-- Written by Jim Koford
Eat, Drink and Talk Money With Jim Cramer
Meet Jim Cramer at an exclusive reception at his Bar San Miguel in Brooklyn, N.Y., on Tuesday, July 25, from 6:30 to 9 p.m. ET.
The evening will start with a screening of Jim's CNBC show Mad Money. Afterward, Jim will join the party fresh off of the CNBC set to mingle, take photos and answer your investing questions.
Tickets include dinner, drinks and an autographed copy of Jim's book Get Rich Carefully.
Click here for more information or to buy tickets.
Where: Bar San Miguel, 307 Smith St., Brooklyn, N.Y.
When: Tuesday, July 25, 6:30 to 9 p.m. ET